HUD proposes a rule to prohibit mortgagees from charging post-payment interest to the mortgagor under FHA’s single family mortgage insurance program and, instead, require them to charge interest only through the date the mortgage is paid. The proposal seeks to achieve consistency among FHA single-family mortgage products and to provide the same protections for all mortgagors (borrowers). Comments on the proposal are due by May 12, 2014.
